Search Result for : Coal Production

The Dollar Business Bureau Industry association Federation of Indian Chambers of Commerce and Industry (FICCI) welcomed the Government decision for allowing commercial mining of coal and said that it will support ‘Make in India’ initiative and reduce the country’s dependence on coal imports. The Union Cabinet on Tuesday cleared a process of bidding for commercial mining after four years after enabling the sale and commercial mining of coal through the Coal Mines (Special Provisions) Ordinance, 2014. “FICCI welcomes Cabinet approval to introduce commercial mining of coal and sees it as a landmark policy decision that will change the face of Indian Coal Sector by ushering in rebalancing of prices and market dynamics riding on efficient and large-scale mining,” the industry association said in a statement on Wednesday. It considers that ...

The Dollar Business Bureau India’s mineral production recorded a growth of 9.4% in the month of August this year compared to the same month last year. The total value of mineral production during the month was Rs.18,015 crore. “The index of mineral production of mining and quarrying sector for August 2017 at 92.7, was 9.4% higher as compared to the level in the month of August 2016,” according to a statement issued by the Ministry on Mines on Monday. “The total value of mineral production - excluding atomic and minor minerals - during August 2017 was Rs.18,015 crore,” it said. The cumulative growth in the mineral production, during the period April-August of this fiscal, was 3.3% compared to same period a year ...

The Dollar Business Bureau India’s coal import declined by 6.37% to 191.95 million tonnes in the last fiscal of 2016-17 on account of higher production by Coal India Ltd (CIL) which indicates that the country has moved to a regime of coal surplus. In the fiscal of 2015-16, imports of coal stood at 203.95 million tonnes, according to official data. “On enhanced production by CIL, the country has moved from a regime of coal scarcity to a coal surplus situation,” a media statement by CIL said. The overall domestic production of coal was 659.27 million tonnes against a demand of 884.87 million tonnes, it reads. The Government has announced that it is planning to boost the annual production capacity of CIL to 1 billion tonnes by 2019 in ...

The Dollar Business Bureau  Supported by the higher production of steel and coal, the eight core sectors in India grew by 5% in the month of March, a fastest growth in the past three months.  The rate of growth of eight infrastructure industries, i.e., steel, coal, natural gas, crude oil, refinery products, fertilisers, electricity and cement, was relatively low compared to 9.3% recorded in the same month last year. According to the data released by the government on Monday, coal production grew by 10% in the said month compared to 2.5% in the previous year.  The production of steel, both alloy and non-alloy, increased by 11% in March whereas it had increased by 7.8% in the same period in 2016.  ...

The Dollar Business Bureau The Government said on Sunday that it is targeting to bring down the imports of thermal coal to ‘zero’ of power public sector units (PSUs) such as NTPC Ltd in this fiscal, a step that will help in cutting down the import bill of the country by about Rs.17,000 crore. “This year we want that coal import by these plants (of public sector companies) should be brought down to zero and slowly we would convince the private sector that there is no need for you to import coal,” Susheel Kumar, Secretary - Coal told the PTI. The government would gradually persuade the private firms to stop the imports of thermal fossil fuel and source their coal requirements through local sources as this is ...

The Dollar Business Bureau Emboldened by inflated valuations due to doubling of coking coal prices in the previous year, Coal India Ltd. (CIL) had announced plans to explore coking coal assets in US, Colombia, South Africa, Indonesia and Australia. It has been reported that CIL has now zeroed in on Australia and South Africa for foreign acquisitions. The logistical advantage of shipping coal from Australia due to its proximity makes the country favourable over US or South Africa. The government-owned coal giant started exploring opportunities outside India in January 2017, via its subsidiary Coal Videsh. Lack of technological wherewithal required to build domestic reserves prompted the public sector coal miner to explore opportunities abroad in January 2017. CIL has two routes ...

The Dollar Business Bureau The Government is expected to clear the Coal Linkage Policy in the coming week to ensure adequate supply of coal to power plants via the reverse auction route.  “The proposals for the scheme known as ‘SHAKTI’ is to provide coal linkage to power plants was on the agenda of the Cabinet meet held on Monday. But, it did not come up for discussion due to time paucity as the meeting was organised on a short notice,” reported PTI citing a source. The proposal for the scheme would be discussed in the next Cabinet meeting that is going to be held sometime in the next week, the source said.  According to the coal ministry proposal which was placed before the committee last year, a policy ...

The Dollar Business Bureau Coal India Limited (CIL) comes bearing good news for the non-regulated sector (sponge iron, cement, steel etc) as it announces its decision to start the second phase of auction of coal linkages in January 2017. About 14.5 million tonnes is the estimated quantity of fuel that's on offer, of which, 5 million tonnes is exclusively for the sponge iron sector. Coal being a major source of power in India, its shortage is no surprise. All power-generating entities rely on the state-owned coal mines for their share of fuel, making its supply far more scanty for the non-power sectors such as steel, cement and aluminium. Earlier, Standing Linkage Committee was the deciding authority on coal allocation. Coal is now made ...